Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Stock Crosses Above Fifty Day Moving Average - Here's What Happened

Key Points

• Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) shares surpassed their 50-day moving average, trading as high as $45.34 before settling at $44.96.
• The company reported earnings of $1.33 per share for the last quarter, missing the consensus estimate of $1.35 by $0.02.
• With a market cap of $25.30 billion, Grupo Financiero Banorte has a PE ratio of 8.45 and a debt-to-equity ratio of 0.54.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY - Get Free Report) shares passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $44.82 and traded as high as $45.34. Grupo Financiero Banorte SAB de CV shares last traded at $44.96, with a volume of 16,139 shares changing hands.

Grupo Financiero Banorte SAB de CV Trading Down 0.5%

The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $25.70 billion, a P/E ratio of 8.59, a P/E/G ratio of 0.96 and a beta of 0.75. The firm's 50 day simple moving average is $44.87 and its two-hundred day simple moving average is $41.72.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.02). Grupo Financiero Banorte SAB de CV had a net margin of 13.01% and a return on equity of 21.67%. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $40.02 billion. As a group, analysts forecast that Grupo Financiero Banorte SAB de CV will post 4.84 earnings per share for the current fiscal year.

About Grupo Financiero Banorte SAB de CV

Grupo Financiero Banorte, SAB. de C.V., through its subsidiaries, engages in the provision of banking and financial products and services in Mexico and internationally. The company accepts checking, current, retirement, and payroll accounts; and provides loans, including mortgage, car, payroll, personal, structured, syndicated, SME loans, and credit cards, as well as letter of credit financing, acquisition funding, and import and export foreign trade financing.